Qtel and KIPCO agree Wataniya Telecom transaction

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        'caption' => 'From left to right: Sheikh Mohammed Bin Suhaim Al Thani, QTel Board Member, H.E Sheikh Abdullah Bin Mohammed Al Thani, Chairman of QTel, Mr Faisal Hamad Al Ayyar, Managing Director and CEO of KIPCO and Dr. Nasser Marafih, Chief Executive Officer of QTel',
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Notes and media contacts

Qtel:
Adel Al Mutawa, Group Head of Corporate Communications
Tel: +974 440 0838
www.qtel.com.qa

KIPCO:
Ahmad Al Ajeel
Vice President
+965 244 0853

Marketing/ R&D/ PR
Robert Hipkins
Group Communications Director
+965 635 6969

Qatar Telecom QSC:
Qatar Telecom (Qtel) is the exclusive telecommunications provider in Qatar. Its principal activities include local and international fixed telephone, mobile, Internet, data and cable television services.

Qtel is committed to growing its presence in the Middle East and internationally. In 2004, Qtel led a consortium and won the public tender for the second mobile licence in Oman, and launched its Nawras subsidiary services in March 2005, capturing more than 500,000 new customers (over 31% of the Omani mobile market) in just over 20 months of operations. In November 2006, Qtel signed an agreement to acquire a strategic stake in NavLink, a leading provider of managed data services to businesses in the Middle East, with AT&T Inc. In January 2007, Qtel further extended its international presence through the acquisition of an approximate 25% equity stake in ST Telemedia's Asia Mobile Holdings Pte. Ltd. ('AMH'), which has majority equity in Starhub in Singapore and IndoSat in Indonesia.

During 2006, the Qtel Group achieved revenues of QR 4.42 bn (2005 - QR2.98 bn), an increase of 48.2% over the corresponding period in 2005. In achieving these results, the Group also grew its combined mobile customer base in Qatar and Oman to 1,491,700, which is an increase of 55.3% over the customer base of 2005.

Qtel was the prestige partner of, and official telecommunications provider to, the 15th Asian Games Doha 2006, where it implemented the most advanced technologies in the region, including a wide range of services for local and international telephony, Internet and data services and television and radio broadcasting required to support the Games and transmission to over 3 billion people around the world.

Qtel is a winner of the 2005 Gulf Excellence Award and the 2006 GCC Economic Award. The company is listed on the Doha Securities Market and on other stock exchanges in the GCC. For more information, visit: www.qtel.com.qa.

KIPCO:
The KIPCO Group is one of the biggest diversified holding companies in the Middle East and North Africa, with assets worth more than US$ 18 billion under management or control. The Group has substantial ownership interests in a portfolio of 54 companies operating across 17 countries. The company's main business sectors are financial services and media & telecommunications. Through the subsidiaries and affiliates of its companies, KIPCO also has interests in Industry, Healthcare, the Management & Advisory sector and Real Estate.